Gov Soludo Presents N757 Billion 2026 Appropriation To Anambra Assembly

By Okey Maduforo

Governor Chukwuma Soludo of Anambra state has presented the 2026 appropriation bill of N757 billion, tagged 'Changing Gears 3.0 Solution Continues' to the state House of Assembly.

Recall that Soludo had last year presented the 2025 budget proposal to the tune of N606 billion which according to him made a budget deficit of N139.5 billion, a development that represents 24 percent compared to 30 percent deficit of 2024 appreciation.

Soludo recalled that on November 19, 2024, "I presented to this Honorable House the 2025 Budget, titled “Changing Gears 2.0”, which you diligently reviewed and passed into law.

"We proposed a modest budget of ₦606,991,849,118 for the 2025 fiscal year, compared to ₦410 billion for 2024, representing a 48% increase. Recurrent expenditure stood at ₦139.5 billion (a 45% YoY growth), while capital expenditure was ₦467.5 billion (48.9% YoY growth). The budget deficit was estimated at ₦139.5 billion, representing 24% of the budget compared to 30% in 2024"

Soludo lamented that the implementation of the 2025 budget has been challenging but reassuring against all odds.

 "As you are aware, the macroeconomic environment in which we are implementing the 2025 budget has been both challenging and reassuring"

 "Inflation persisted in double digits with significant pressures on the cost of living and the cost of governance. However, there is relative stability in the macro-economic environment, with declining headline inflation as well as stable exchange rates"

"The proposed budget size for the 2026 fiscal year is ₦757,884,487,705. When compared to the 2025 budget of ₦606,991,849,118, this represents a 24.1% increase, reflecting our intensified focus on execution. Recurrent expenditure is projected at ₦162.6 billion, representing a 16.6% year-on-year growth, while capital expenditure stands at ₦595.3 billion, a 26.3% growth relative to 2025. Notably, the Capital Budget accounts for 79% of the total budget size, with recurrent expenditure at 21% -- a clear demonstration of our commitment to deliver tangible outcomes for Ndi Anambra". 

"The budget deficit is estimated at ₦225.7 billion, representing 29.8% of the total budget size. As previously, this deficit is expected to be financed, if necessary, through hybrid financing options including possible privatization proceeds, bump in IGR collections, and concessionary borrowing mostly for bankable projects. However, since the beginning of this administration, we have not borrowed to finance budget deficits, and depending on the pace of execution in 2026, we may still not need to borrow," he said.